TeraWulf (NASDAQ:WULF) CEO Paul Prager Sells 137,500 Shares of Stock

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager sold 137,500 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $26.60, for a total transaction of $3,657,500.00. Following the sale, the chief executive officer owned 3,945,052 shares of the company’s stock, valued at approximately $104,938,383.20. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TeraWulf Trading Down 4.5%

Shares of NASDAQ:WULF traded down $1.12 on Wednesday, reaching $23.58. 30,471,435 shares of the company traded hands, compared to its average volume of 26,953,270. The stock has a market capitalization of $11.68 billion, a P/E ratio of -9.51 and a beta of 3.73. The business’s 50-day simple moving average is $24.39 and its 200 day simple moving average is $18.24. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 33.00. TeraWulf Inc. has a 52 week low of $4.52 and a 52 week high of $29.84.

TeraWulf (NASDAQ:WULF) last released its earnings results on Friday, May 8th. The company reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.82). The company had revenue of $34.01 million during the quarter, compared to the consensus estimate of $34.69 million. TeraWulf had a negative net margin of 611.46% and a negative return on equity of 305.07%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted ($0.16) EPS. As a group, equities analysts anticipate that TeraWulf Inc. will post -0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in shares of TeraWulf during the 3rd quarter valued at $29,000. Vermillion Wealth Management Inc. lifted its stake in shares of TeraWulf by 1,191.0% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,595 shares of the company’s stock valued at $30,000 after buying an additional 2,394 shares in the last quarter. Solstein Capital LLC purchased a new position in shares of TeraWulf during the 4th quarter valued at $34,000. Comerica Bank boosted its holdings in TeraWulf by 3,748.5% in the 1st quarter. Comerica Bank now owns 12,700 shares of the company’s stock worth $35,000 after buying an additional 12,370 shares during the period. Finally, First United Bank & Trust bought a new position in TeraWulf in the 1st quarter worth $37,000. Institutional investors own 62.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group began coverage on TeraWulf in a research note on Thursday, May 14th. They set a “buy” rating and a $28.00 price objective for the company. Northland Securities set a $30.00 price target on shares of TeraWulf in a report on Monday, May 4th. Oppenheimer restated an “outperform” rating and issued a $35.00 price objective on shares of TeraWulf in a research report on Wednesday, May 27th. Roth Mkm reaffirmed a “buy” rating and set a $32.00 price objective on shares of TeraWulf in a research note on Friday, April 17th. Finally, Cantor Fitzgerald increased their target price on shares of TeraWulf from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.10.

TeraWulf Company Profile

TeraWulf, Inc (NASDAQ: WULF) is a digital asset infrastructure company focused on the development and operation of zero-carbon bitcoin mining facilities. The company integrates sustainable power generation with high-density data center technologies to deliver environmentally responsible digital asset mining services. Its core business revolves around designing, building and operating large-scale mining projects powered exclusively by renewable or emissions-free energy sources.

One of TeraWulf’s flagship projects is “Project Nautilus,” located in Tompkins County, New York, which harnesses hydroelectric power sourced from the New York State Electric & Gas (NYSEG) grid.